Crypto Whale Books $17.78M Gain, Opens $44.6M Ether Short

A crypto whale closed $100 million in Bitcoin (BTC) and Ether (ETH) longs after nearly four months, realizing a $17.78 million gain before opening a 20,000-ETH short valued at $44.6 million.

The new short opened at $2,228 per ETH.

The trader opened the BTC long in early July with 1,000 coins at $62,353 each. The Ether long began with 10,000 coins at $1,762 per ETH. Both positions remained open for nearly four months before closing.

The new short covers twice as many Ether as the earlier long by coin count. The position change took the trader from long exposure to both Bitcoin and Ether to a short trade in Ether. The earlier Ether position had been 10,000 ETH, compared with 20,000 ETH in the new short position. The new trade followed the closure of the prior Bitcoin and Ether longs.